AFTER two overwhelming defeats at the hand of Ukip leader Nigel Farage, bookies have slashed the odds on Nick Clegg standing down as Lib Dem leader.

Nick Clegg lost the two EU debates to Nigel Farage, according to numerous polls[PA]

For a party leader to be beaten twice in a head to head debate by the leader of a party with no MPs to its name is unlikely to play well with senior members of the Lib Dems

William Hill's spokesman Graham Sharpe

The Deputy Prime Minister has seen his party's poll ratings hover around the ten per cent mark since 2011, and could even lose all 12 of their MEPS in May's European elections.

But after opinion polls decisively backed Mr Farage after both EU debates, bookmakers William Hill have now reduced the odds of Mr Clegg standing down as party leader before January 1 2016 from 11/10 to odds-on 8/11.

William Hill's spokesman Graham Sharpe said: "For a party leader to be beaten twice in a head to head debate by the leader of a party with no MPs to its name is unlikely to play well with senior members of the Lib Dems."

Lib Dem president Tim Farron is the favourite to succeed Nick Clegg [GETTY]

Current Lib Dem President Tim Farron is the 2/1 favourite to succeed Mr Clegg, followed by Business Secretary Vince Cable at 7/2 and Energy Secretary Ed Davey.

During the Lib Dem Spring conference in York last month, Mr Clegg's official spokesman said the Deputy Prime Minister had no intention to stand down as leader.

The spokesman said: "Nick Clegg intends to be the leader of the Liberal Democrats today, tomorrow, into the 2015 election and through the whole of the next parliament. He intends to be leader of the Liberal Democrats whether or not we're in government."

William Hill have also installed Ukip as favourites to win the European elections on May 22, giving them Even odds.

Labour are 11/10 to win the popular vote, Tories 11/2 and the Lib Dems are at 200/1.